This paper first extends Sias (2004) to examine whether UK fund managers are engaged in herding behaviours in the stock … market, their reasons for herding, whether their herding behaviours are different during bullish and bearish periods and … whether or not their herding behaviours are informational. Our results demonstrate that UK fund managers' cascades primarily …

In this study, we test for the presence of investor herding behavior in the Tunisian stock market. Further, we explore … the explanatory factors of the occurrence of the probability of stock market booms and busts by combining herding behavior … of investors and economic and financial fundamentals. We find that investors exhibit different levels of herding behavior …

- The results do not provide evidence for herding under normal market conditions, either when reacting to fundamental …. Also, no considerable evidence is found for herding (on fundamental information) under crisis and up-market conditions …